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Swipely Named to Forbes’ 100 List of America’s Most Promising
Companies

First Rhode Island Company Ever Named to Prestigious AwardGrowth
Accelerates, Now Managing over $400 Million in Sales for Local Merchants

PROVIDENCE, R.I.--(BUSINESS WIRE)--Swipely,
the simple way for local merchants to accept payments, understand
customers and grow sales, today announced it was named one of “America’s
Most Promising Companies” by Forbes Magazine. Chosen from
thousands of applicants, the awards recognize the nation’s one hundred
most promising high-growth private companies with compelling business
models, strong management teams, notable customers, strategic partners
and precious investment capital.

Swipely is the first Rhode Island company ever named to the Forbes list.
Swipely made its debut on Forbes’ list less than one year after
introducing its breakthrough product that transforms payment processing
into valuable analytics and marketing tools, without increasing cost.
The company is growing by more than 50 percent each quarter, disrupting
the $90 billion U.S. payments market. Today, Swipely has over $400
million in sales under management, helping hundreds of merchants
understand over 875,000 consumers.

“Swipely’s vision is to bring powerful, simple and affordable online
tools to offline businesses. Today’s recognition by Forbes validates
both our huge opportunity, and our traction with customers,” said Angus
Davis, founder and CEO of Swipely. “As the first Rhode Island company
ever named to the Forbes list, I am especially proud of our winning
team.”

Swipely crunches the “big data” behind every card transaction for local
restaurants, salons and other retailers, using that data to enable a
suite of marketing tools that help local businesses understand customers
and grow sales. These powerful tools are easy to use and cost nothing
more than what merchants already pay to accept credit and debit cards.
Swipely is a good fit for merchants accepting over $30,000 in monthly
card sales.

About Swipely:Swipely is a simple way for local merchants
to accept payments, understand customers and grow sales. Swipely’s
valuable analytics, loyalty and marketing tools work with systems
merchants already have and with cards consumers already use. Merchants
use Swipely to manage over 400 million dollars in sales and to
understand and grow relationships with more than 875,000 consumers.

Founded by Angus Davis, the Providence, RI based company includes
veterans of Tellme, Microsoft, Netscape, LivingSocial and SeamlessWeb,
and is backed by leading Silicon Valley investors including Index
Ventures, Greylock Partners, and First Round Capital, among others, who
have made the largest software venture investment in Rhode Island
history.

About Forbes “America’s Most Promising Companies”:One
metric never says it all. For the Most Promising list, Forbes strove for
a holistic gauge of young, privately-held companies, trying to pin down
their trajectories by looking at a slew of variables. Over the course of
six months Forbes reviewed thousands of applications. The final
assessment is based on growth (both in sales and hiring), quality of
management team and investors, margins, market size and key
partnerships. Forbes turned to CB Insights, a Manhattan-based data
research firm that specializes in assessing private companies, to refine
the search. Their MOSAIC software scans 45,000 sources to measure a
company’s health. A new distribution deal, for example, marks a positive
signal, while the loss of an executive is a negative. MOSAIC gathers
those myriad signals into a final score that Forbes uses as an initial
guide in producing the list. After verifying sales numbers, speaking
with each company and debating their merits and blemishes, Forbes
produces a final ranking.